External financing needed to maintain growth: SBP on July 12, 2018KARACHI: The State of Bank has stressed the need to arrange external financing in the short-term, and resolve structural issues affecting competitiveness in the medium and long term for sustainability of current growth momentum. The economic sustainability rests on effectively managing the internal and external gaps, said the central bank in its third quarterly report […]
Pakistan Horticulture Vision 2030 sets export target at $6 billion on July 8, 2018“Pakistan Horticulture Vision 2030 (PHV) will help the government put country on a path of development, it will especially improve the agriculture sector,” said Waheed Ahmed, Patron -in -Chief of All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA) on the curtain raising ceremony of Pakistan Horticulture Vision 2030. Sindh Caretaker Agriculture Minister […]
Overseas Pakistanis remit $18 billion in 2018 on June 11, 2018KARACHI: Overseas Pakistani workers remitted $18028.24 million in the first eleven months (from July to May) of fiscal year 2018, showing a growth of 2.95 % compared with US $17511.12 million received during the same period in the preceding year. According to State Bank of Pakistan, during May 2018, the inflow of worker’s remittances amounted to […]
Karachi Expo Centre to be re-modelled for CPEC on June 2, 2018Karachi: Federal government initiated remodelling and expansion of the Karachi Expo Centre (KEC) at the cost of Rs 8 billion within next four years to accommodate growing number of exhibitors and visitors. The purpose of the expansion was to make the Expo Centre compatible with China Pakistan Economic Corridor (CPEC). Groundbreaking ceremony of the project […]
Extreme hot weather pushes demand for watermelon up on May 29, 2018KARACHI: As the weather in the port city gets hotter the demand for watermelon has also increased making it a most sought-after item at Iftar tables. Every day around 250 truckloads of watermelon arrive at the New Fruit and Vegetable Market from where the fruit is supplied to the rest of the city. Owing to […]
SBP increases interest rate by 50 basis points to 6.5% on May 26, 2018The State Bank of Pakistan on Friday increased the policy rate by 50 basis points to 6.5% for the next two months. In a policy statement, the bank said that that inflation may rise in the coming months. “Average of YoY Non-Food Non-Energy NFNE-core inflation during the last two months has risen to 6.4%, which […]
Pakistan’s current account deficit swells to $14 billion historical high level on May 19, 2018KARACHI: Pakistan continues to face balance of payment crisis as the country recorded historic high current account deficit of $14 billion during the 10 months of current fiscal year mainly due to widening of trade and services account deficits. The current account deficit of the country has increased to 5.3 percent of the GDP. According […]
SBP issues Electronic Fund Transfer regulations to protect consumers, ensure transperency on May 10, 2018Karachi: State bank of Pakistan on Wednesday issued Electronic Fund Transfer (EFT) regulations to promote EFTs in the country, ensure consumer protection and payment transparency by standardizing EFT and setting uniform regulations, policy and procedures, applicable to Authorized Financial Institutions AFIs, Payment System Operators /Payment Service Providers operating in the country. The regulations which would […]
World now waking up to true potential of CPEC: PM on April 24, 2018KARACHI: Prime Minister Shahid Khaqan Abbasi Monday said that China-Pakistan Economic Corridor (CPEC) is the project of generations and that Pakistan is perusing the initiative on principles of economic viability and environmental sustainability. Addressing the participants of opening session of the CPEC Summit and Expo 2018, the prime minister said that project aims at not […]
‘Dinner in the Sky’ is coming to Pakistan on April 20, 2018Karachiites will soon be enjoying dinner up in the sky with the launch of Pakistan’s first Dinner In The Sky restaurant on August 14, 2018. Rs 230 million Belgium chain of restaurants is currently in the process of menu selection in the supervision of Belgian chefs. “We will provide unique experience of dinner in the […]